audits

Malaysia’s GLICs hold combined AUM valued at over RM1.8 trillion, roughly the size of Malaysia’s nominal GDP

Following the enactment of the Audit (amendment) Bill, which took effect on 1st November, the Auditor-General now holds the authority to audit the accounts of 1,856 entities, including GLCs.

If audits uncover just RM1 million in savings per company, the total could reach RM2 billion - resources that can be allocated towards transforming Malaysians’ lives for the better.

NIAGA SPOTLIGHT focuses on transparency and accountability for GLCs and GLICs to identify underperforming entities and improve Malaysia's overall economic landscape.

e-Invoicing by IRBM results in the tax authority having a real time digital record of transactions, ensuring "compliance by design".

PADU can also be expanded to include data on businesses and commercial outlets in the country, said Dr Noor Nirwandy Mat Noordin.

The government war urged to carry out regular security audits on the central database system (PADU).

The audits come less than three months ahead of Taiwan's presidential election and amid Foxconn's drive to expand production outside China.

The report will be uploaded on the website of the National Audit Department after being tabled at Dewan Rakyat.

The government is conducting forensic audits of all companies licensed to package subsidised cooking oil to ensure that none of them are involved in smuggling activities.

Jakim will send a halal team to conduct audits at all abattoirs and at the Supreme Islamic Council of Halal Meat in Australia Inc (SICHMA) which supplies meat to Malaysia.

Seventeen performance audits of RM90.635 bln were carried out involving programmes, activities and projects at 13 ministries for the LKAN.

Lembaga Tabung Haji (TH) will provide full cooperation to the Royal Commission of Inquiry (RCI) on issues arising from audits carried out by consultants from 2014 to 2020.

Nik Azman said the audit aims to assess the extent where public money has been spent prudently, efficiently and effectively without waste.

Government will continue to empower the local film industry including by setting specific targets audits and by repurposing development funds and film production.

The SEC said Tuesday that Ernst & Young, one of the global "big four" accounting firms, had failed to detect the fraud for more than four years.

The audit is to check on the accuracy and validity of the records of subscribers taken by dealers and agents at the point of registration.

This new Act is necessary in order to avoid natural disasters caused by uncontrolled development, representatives say.